The End of Aboriginal Art?

The Australian says the Aboriginal Art market is over, strangled by regulations, the passing of a generation of masters and changes in investment rules. But they’re own numbers (see chart below) show a market that struggled to maintain a level around A$10m and may still climb closer through the remainder of the year:

According to figures compiled by Australian Art Sales Digest, total sales of Aboriginal art at auctions in Australia soared from less than $1 million in 1994 to a peak of $23.9m in 2007. As the financial crisis struck, sales crashed to $11.7m in 2008 and $10.9m last year. This year, just $5.7m worth of Aboriginal art has been auctioned.